Traders

Weekly gains in the Northeast, prompted by a late week $1+ surge at some points, along with a strong showing at California locations, helped lift weekly natural gas quotes nationally to a nearly dime gain overall.

Physical natural gas for Friday delivery continued to cartwheel lower along with futures as a hat-trick of unsupportive weather forecasts, a weak power environment, and a hefty government inventory report relegated market bulls to the bench.

Natural gas futures inched lower Thursday morning following the release of government inventory figures showing an increase in working gas storage that was about what traders were expecting.

September natural gas is expected to open 2 cents lower Thursday morning at $2.91 as traders expect a government report to show a greater increase in storage compared to the previous week. Overnight oil markets fell.

Traders viewing the market landscape for weekend and Monday natural gas decided committing to three-day deals could wait and elected to hold off purchases.

Traders viewing the market landscape for weekend and Monday natural gas decided committing to three-day deals could wait and elected to hold off purchases.

Physical gas for Friday delivery changed little in Thursday's trading as most traders and marketers elected to get their deals done prior to the release of storage data by the Energy Information Administration.

Physical gas for Friday delivery changed little in Thursday’s trading as most traders and marketers elected to get their deals done prior to the release of storage data by the Energy Information Administration (EIA).

Natural gas cash and futures markets forged different paths Thursday as forecasts of moderating temperatures prompted a weaker physical market, but a supportive Energy Information Administration inventory report gave a modest lift to futures.